Newsletter

A Taxing SituationStarting your first business as a self-employed individual may be exciting, but it can also be taxing. To make the best of it, you’ll need to understand and attend to your tax obligations.

Home Sweet HomeYou could be eligible to deduct some costs of your home for business — if you follow strict rules.

Selling Your HomeIf you sell your home and don’t buy another one, and you make a large profit on the sale, you could owe federal capital gains taxes on your profit.

March 2019 Client ProfileMarilyn owns a business with 20 employees. For the past five years, she has awarded cash gifts to her employees of the month, but she is concerned that the new tax law will adversely affect her and her rewarded employees. What should she do?

Turbo-Charge Retirement SavingsIf you aren’t saving enough for the future, the simplest way to increase your retirement plan balance is to increase contributions by 1%. If you’re considering deferring 3% of a $50,000 salary, you would contribute $1,500 annually. Over 20 years at 6% compounded daily, your 3% contribution, which is $125 monthly, would have grown from zero to $57,994.74.

Choosing the Right Retirement PlanIf you own a business, you’ll need to explore the variety of employer provided retirement plans before choosing one. Some allow participants to make contributions that are deductible from taxable income, timely during this tax season. Here’s a summary of some of them:

March 2019 Q and ALet's discuss life insurance beneficiaries, and deducting investment losses.

March 2019 Short BitsCONSUMER EXPECTATIONS MIXED. The Federal Reserve Bank of New York’s Center for Microeconomic Data conducts a monthly survey of consumer expectations for the future.

For more than 50 years, we have been applying a solid hands-on personal approach to serving you. This means we do our best to give you as much time as you need for a visit or a phone call. And we don't try to fit your business into our standard menu of services. The work we do is individually tailored to best fit your needs.